Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold”: Of nine covering firms, four rate Pacira BioSciences a buy, four hold, and one sell. The average 12-month price target is $30.14 versus the stock’s recent price of $25.05.
• Latest quarterly results exceeded expectations: Pacira reported adjusted earnings of $0.73 per share, above the $0.65 consensus estimate, while revenue rose 6.2% year over year to $192.4 million.
• Institutional ownership is high: Hedge funds and other institutional investors own 99.73% of the company, while insiders hold 6.40%; an insider recently sold 3,040 shares under a pre-arranged trading plan.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) has received an average recommendation of "Hold" from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.14.

Several brokerages have recently weighed in on PCRX. Truist Financial started coverage on shares of Pacira BioSciences in a report on Monday, August 17th. They set a "buy" rating and a $30.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Oppenheimer began coverage on shares of Pacira BioSciences in a research report on Wednesday, September 23rd. They set an "outperform" rating and a $32.00 price target for the company. Wall Street Zen raised shares of Pacira BioSciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. Finally, Royal Bank Of Canada increased their price target on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider directly owned 216,384 shares of the company's stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Pacira BioSciences by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,060,597 shares of the company's stock worth $46,572,000 after purchasing an additional 110,584 shares during the period. Wellington Management Group LLP lifted its stake in shares of Pacira BioSciences by 17.8% in the 2nd quarter. Wellington Management Group LLP now owns 563,458 shares of the company's stock valued at $14,295,000 after purchasing an additional 85,075 shares in the last quarter. Gagnon Securities LLC grew its holdings in shares of Pacira BioSciences by 11.5% during the 4th quarter. Gagnon Securities LLC now owns 501,211 shares of the company's stock worth $12,971,000 after purchasing an additional 51,494 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $7,532,000. Finally, Hillsdale Investment Management Inc. increased its position in Pacira BioSciences by 7.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 331,300 shares of the company's stock worth $7,487,000 after purchasing an additional 23,100 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $25.05 on Tuesday. The company has a market cap of $998.54 million, a P/E ratio of 71.57 and a beta of 0.25. The business has a fifty day simple moving average of $25.24 and a 200-day simple moving average of $24.37. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.66. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The firm had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. During the same period in the prior year, the business posted $0.74 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Pacira BioSciences will post 1.91 EPS for the current year.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company's portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.

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